$200 Billion From Crypto Markets As Bitcoin (BTC) Falls Below $93,000 (Market Watch)

The price of Bitcoin stopped before $100,000, and the subsequent rejection pushed it south, causing the asset to lose more than six thousand in hours.

Altcoins have also turned red, with massive declines in Solana, Dogecoin, Cardano, Stellar, Polkadot and many others.

Substantial correction of BTC

The major cryptocurrency experienced a mind-boggling rise since Trump won the US election three weeks ago, culminating in a rise to just over $99,800 on Friday, which became the highest price level of the history of the asset. However, it was unable to raise a few hundred dollars to break into six-figure territory and began to lose value.

It fell below $98,000 on Saturday and below $96,000 on Sunday, but its real crash came on Monday. Interestingly, the day started with an increase in the price that pushed it to $99,000, but the bears came out of the woods at this point and did not allow another run towards $100,000.

Just the opposite, BTC began to lose value quickly and fell below $93,000 for the first time in about a week. Analysts noted that these corrections are expected after similar runs of 40%. Some warned that there could be more pain in the near term, but there are also signs that the overall bull cycle is not yet over.

BTC is back below $93,000, with its market cap below $1.840 trillion. His dominance over the highs has also regressed slightly to 55% in CG.

Bitcoin/Price/Chart 11/26/2024. Source: TradingView Alts also turn red

Altcoins have also plummeted in the last day, apart from ETH and TON, which managed to stay almost at the same levels as yesterday.

Others, however, such as SOL, XRP, DOGE, ADA, AVAX, XLM and DOT, have fallen as much as 13%. Even more losses come from SAND and RAY, both down 15%.

The cumulative market capitalization of all crypto assets has fallen by roughly $200 billion since yesterday, down from $3.34 trillion now.

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